1 EXHIBIT NO. 11.1 COMPUTATION OF PER SHARE EARNINGS - ---------------- - ------------------------------------------------------------------------------------------------------------ FOR THE YEARS ENDED DECEMBER 31 1996 1995 1994 - ------------------------------------------------------------------------------------------------------------ Gross Weighted Average Common Shares Outstanding 3,413,636 3,034,092 3,034,092 Weighted Average Treasury Shares Outstanding 58,661 60,398 62,734 ---------- ---------- ---------- Net Weighted Average Common Shares Outstanding 3,354,975 2,973,694 2,971,958 ========== ========== ========== Net Income ($ in thousands) $ 5,959 $ 6,212 $ 5,874 ========== ========== ========== Net Income Per Common Share $ 1.78 $ 2.09 $ 1.98 ========== ========== ========== 62